Briefing: June 2010 Quarterly Activities Report David Salisbury, CEO and Managing Director 29 July 2010
Financial Update NZ31.3m in Operating Revenue for June Quarter Tui 13.1m, Kupe 18.2m Full year Operating Revenue: 99m Pike River Coal funding Short term financing repaid by Pike NZOG participated in NZ10m placement and NZ40m…
Kupe In steady state production since 22 March Production for quarter (NZOGs 15% share): 0.74 PJ gas 2,780 tonnes LPG 68,400 barrels of oil NZOG Kupe revenue for quarter: NZ18.2m Kupe 2P Reserves increase: Gas reserves up 8%…
Tui FY2010 revised production target slightly exceeded Total production 4.83mmbbls NZOGs 12.5% share 604,000 barrels Production for quarter (NZOG 12.5% share): 122,000 barrels of oil NZOG Tui revenue for quarter: NZ13.1m One…
Exploration - Tui Tui SW-2 drilled May/June non-commercial: approx 2 metre oil column Suspended as future gas injection well Kahu-1 drilled June/July Valley feature not reservoir quality F10 sands intersected below oil/water…
Seismic Survey Regional survey completed in May 600km of seismic lines tied into previous wells Processing underway Will provide key information to assess the prospectivity of the southern and western offshore Taranaki…
Kaupokonui Prospect between Kupe and Maari fields Testing canyon truncation of Kaupokonui Miocene sands Prospect NZOG looking to sell down its 100% stake Drilling commitment required Jan 2011 Kaupokonui Volumetrics…
Barque Canterbury Basin gas condensate prospect NZOG looking to reduce 40% stake Extension to drilling decision timetable applied for Barque Volumetrics Reservoir Mean Recoverable Interval Resources Shag Point Sands 1.37…
Priority In Time application NZOG lodged PIT application with Crown Minerals for area immediately north of Barque No competing bids application now being processed New Zealand Oil & Gas Limited 9
Parihaka NZOG is acquiring Mighty River Powers 20% stake in PEP 51558 Enhances NZOGs northern offshore Taranaki position, which now includes: PEP 51988 Mangaa (100%) PEP 38491 Albacore (40%) PEP 51558 Parihaka (20%) New…
Pike River Coal NZOG enhancing and protecting its investment: Participated in NZ10m share placement and NZ40m rights issue at 29.4% equity level NZOGs total equity investment in Pike now NZ85m Market value of shareholding 28/7/10…
Annual Meeting and Investor Briefings This years Annual Meeting will be held in Auckland on Wednesday 27 October. The following day there will be investor briefings in Wellington and Christchurch. Annual Meeting Date: Wednesday 27…
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